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Abstract: This article outlines some of the ambiguities arising from the endeavours of the EU Court to offer the national courts sufficiently clear interpretation of EU rules on free movement of services in respect of various national restrictions of online gambling that would enable them to make rulings in increasingly high numbers of cases in which foreign providers are restricted from accessing markets of EU Member States. It is submitted that this casuistic approach by the Court should not be considered as satisfying and that harmonising instruments should be adopted by the EU legislators, instead. Yet however, this is less realistic than ever before, as the Commission in situation of a total lack of the Member States' consensus stepped away from its efforts to pave the way to at least minimum standards of gambling offerings and provision of customers' protection, leaving it further to the EU and national courts to balance between controlled expansion and genuine diminution of gambling opportunities so as to weigh between free movement of services and opposing legitimate aims of the Member States.
Keywords: digital market, online betting, free movement of services, public interest, justifying restrictions on foreign provision of gambling
Published in DKUM: 15.01.2021; Views: 605; Downloads: 21
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Abstract: The main purpose of this doctoral thesis is to investigate the relationship between design orientation and market orientation and propose a new conceptual model. Existing models were investigated. The initial conceptual model was proposed as the starting point. The research combined qualitative and quantitative methods. Quantitative research was conducted among managers and CEOs from Croatian companies in different industries. According to the final PLS-SEM model, design orientation has a direct and significant impact on market orientation and an indirect but significant impact on business success. Managerial approach has a direct and significant impact on design orientation, as well as on market orientation of a company. The new design orientation-market orientation model contributes to both marketing and design scholars, as well as implications for marketers, designers, and managers in practice. Our findings demonstrate that companies with higher level of market orientation and supported with design orientation also have the potential for achieving better results in the market and, consequently, better financial performance. It also provides the basis for future research on the topic.
Keywords: market orientation, design orientation, relationships, conceptual model, implications
Published in DKUM: 22.07.2020; Views: 1162; Downloads: 72
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Abstract: The European economic model benefits from market forces as conditions for achieving goals of enterprises and consumers and economic efficiency is assured by necessary market infrastructure. Competition authorities are, without a doubt, one of the crucial pillars of the (social) market economy. The strength and impact of the competition rules is determined by their efficient implementation. The modest results to date of the competition policy in transitional economies militates in favor of an increase of the institutional capacity and require strengthening of the regulatory powers of public agencies in construction of an efficient economic system. Establishing a system of competitive markets through sectoral regulation, competition protection and state aid control at the national level requires a valid solution for a variety of legal, political and institutional conflicts. As the experience of the countries of South-East Europe has shown, many difficulties arising from the establishment of a functioning control system are procedural and relate to institutional building dilemmas. The purpose of this article is to shed light on the requirements the Republic of Serbia has to satisfy in accession negotiations, and in particular, those related to building an efficient system of state aid control.
Keywords: social market economy, competition protection, state aid, institution building, Serbia
Published in DKUM: 02.08.2018; Views: 868; Downloads: 70
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Abstract: Copyright is an absolute intellectual property right. Historically it is of territorial nature. One of the central issues of copyright is the remuneration of authors. A copyright confers to its holder a legal monopoly comprising certain economic rights that are granted for pecuniary consideration. The economically most efficient way of management of copyright's pecuniary consideration is the collective management. However, collective management covers due to territorial nature of copyright only territory of a certain state. In competition law that might be considered as a monopoly by collecting societies limited to borders of states, in other words there are issues of a possible abuse of a dominant position.
Keywords: copyright, common law, droit d'auteur, civil law, collective management, intellectual property rights, dominant position, abuse of a dominant position, principle of solidarity, copyright related market, search market
Published in DKUM: 01.08.2018; Views: 876; Downloads: 283
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Abstract: Background and Purpose: In recent years classic financial market theory based on decision makers’ rationality has been challenged by repeated anomalies that became a ‘new normal’. As a result, what we witness today is a considerable turn to behavioral concepts that can shed a new light on choices made by market participants. The astonishing development of social media accelerated scientific validation of such concepts, since the media opened new and capacious ‘laboratory space’ for testing behavioral hypotheses. The main purpose of the article is to examine whether financial market professionals believe that social media content can be useful in achieving additional financial market returns and to investigate the factors behind this belief. Design/Methodology/Approach: We surveyed a sample of over 400 financial market professionals at institutions operating in Poland, and analyzed the results using logit regression models. Results: We established that almost 60% of the surveyed finance professionals recognized the potential of social media for achieving additional returns. We also found out that the differences in respondents’ perception of this potential could be explained mainly by heterogeneity of their job experience and, to a lesser degree, by their job position. Interestingly, more experienced individuals were less likely to recognize this potential. Firm-specific factors did not have a significant effect on the dependent variable. Conclusion: The opinions of financial market professionals regarding the link between social media and additional returns are mixed, which is consistent with the current body of evidence brought by sentiment-based research. Our findings confirm the key role of previous experience in explaining attitudes towards novelties and innovations (such as social media), a phenomenon known from other fields and everyday experience.
Keywords: social media, sentiment, behavioral finance, financial market professionals, financial market returns
Published in DKUM: 04.05.2018; Views: 1020; Downloads: 144
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